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English 413
Search Results 0 to 49 of about 413 (some duplicates have been removed)
ABC
Dec 30, 2012 7:00am EST
. that fiscal cliff and its potential impact on our economy brought lawmakers from both uses to washington for last-minute negotiations. concerns about the cliff spooked investors, the holiday shortened trading week was lighter in volume but higher in volatility. the worst decline of the month on thursday after a disappointing read on consumer confident and some public statements by congressional leaders. and yet with one final trading day to go, all the major averages were still showing positive performance for the year of 2012. meantime, the u.s. is set to reach the debt limit on monday. that according to treasury secretary tim geithner in a letter to congress, though, he did say he expects to take what he called extraordinary measures to extend the government's borrowing ability for another two months or so. and even your cup coffee, once a deal on the fiscal cliff. baristas at the 120 starbucks in washington, d.c. were encouraged by management to add a shot of partisanship to their drink orders and r remind customers i our nation's capital to come together. >> wall street is typically
PBS
Dec 26, 2012 4:30pm PST
beyond their control like the economy and the fiscal cliff? >> i think overall it was more probably 70 to 80% factors beyond the retailer's control. i think retailers had creative merchandise but i think the news didn't lead to a feel good factor. >> in any economy, good or bad, you always have some winners. who did really well this year? >> well, it looks like in terms of who did well so far, companies like american eagle outfitters limited, michael cors, macy's' tj and i would say costco was also a winner. >> on the flip side were there retailers that you had high hopes for going into the season but just didn't deliver in the end. >> certainly we will see some becoming more promotion al, some of the children's retailers, whether it was impacted by weather or there was competitive price and they did a good job at it, the children's retailers seemed to have a tougher season this year. >> now is the time of year when we shift into gift card sales. what most people don't realize is those sales get counted until the cards are redeemed. is that enough to save the season? >> not totally but
WHUT
Dec 31, 2012 7:00am EST
in the united states to strike a deal to prevent the economy from going over the so- called fiscal cliff. that is when a package of automatic spending cuts and tax rises comes into fact which could set the country back into recession. that less than 20 hours into the generate the first deadline. >> as night descended on washington, no deal precentors went home with a low over 24 hours to go before the huge austerity package known as the fiscal cliff, something almost nobody wants is due to descend on the american economy. >> we will come in at 11:00 tomorrow morning and that further announcements. >> if there's no doubt, the price of failure could be high. the average american, might see their taxes rise by as much as $2,000 a year. as spending cuts take money from the economy, a second american recession becomes a possibility. confidence in america will be shaken. the financial markets may take fright. president obama believes it is time for the wealthiest americans to pay more in taxes. he has made that part of his negotiating position. he criticized republicans for resisting these tax
LINKTV
Dec 28, 2012 7:00pm PST
to stop the economy falling off the fiscal cliff. talks are taking place before tax rises and spending cuts come into effect on january 1. the woman who's a gang rape sparked mass protest in india has died in hospital. doctors treating the 23-year-old say she was showing signs of severe organ failure before her death. thousands of iraqis are protesting, accusing administration of marginalizing them. the so-called fiscal quiff threatening the u.s. economy. have we are joined by an economics columnist with the washington newspaper. he says without an immediate deal, the discussion will significantly change in the new year. >> i think what we will see from the republicans is much greater flexibility as we get into the new year, if it comes to that. and, instead of voting for a tax increase, they are voting for a tax cut. the same policy, when you are voting for it on january 4, would be a tax cut. today, it would be a tax increase. it is a weird way of thinking about it, but we are a strange land, in terms of u.s. policy right now. heather is a sense the entire dynamic would change if we
FOX Business
Dec 27, 2012 12:00am EST
if the economy goes over the fiscal cliff even the fed itself does not have you have enough tools to go over against the impact. in terms of lack of investment and in terms of businesses closing their doors and remaining sidelined still for quarters going into 2013. adam: well, lindsey, you again are an economist. which is worse, the spending cut from the sequestration or the tax increase? which hits us, 310 million of us are american citizens. which hits us worse? >> well generally when we talk about the difference between spending cuts or tax increases you have to think of taxes as having 1 1/2 times the impact because what that does, there is a trickle down, in fact. we pull out the dollars from investment that would otherwise go to growing businesses investing in equipment, capital and additional employees. right now that is the biggest impact we're not seeing businesses expand and absorbing out that additional labor supply sitting stagnant on the market right now. that is the biggest implication. that is not what we're going to see. adam: james, if i'm hearing her correctly the tax incr
NBC
Dec 30, 2012 2:30am EST
. >> find some way to avoid the fiscal cliff, to avoid doing anything that would contract the economy now. >> does that mean extending the tax cuts? >> the real issue is not whether they should be extended for another few months. the real issue is whether the price the republican house will put on that extension is the permanent extension of the tax cuts. >> grur going to extend the tax cuts you're going to have 3.8 trillion added in ten years to the $16 trillion we already owe. i mean, have a drink. >> we can't keep giving the middle class tax cuts like the president says he wants to do and romney says he wants to do when we got -- when we have a trillion dollar deficit. >> just a few days before the election day and you're analysis of the polls have given the president better than 80% chance of winning re-election? >> the fact that the president leads in the polls in ohio and iowa states where you would need -- he would need to win 207 electoral votes means he's the favorite in the electoral college. >> this is the era of flation. bernanke is writing checks, mar maria. >> writing checks
NBC
Dec 31, 2012 5:00am EST
if the economy is about to fall off the fiscal cliff. apple may be working on an iwatch. >> we have some downed wires to report on liberty road ♪ we were skipping stones and letting go ♪ ♪ over the river and down the road ♪ [ female announcer ] at nature valley, we know nature comes together in amazing ways. that's why we bring together natural ingredients, like dark chocolate with toasted oats, or sweet golden honey. perfect combinations of nature's delicious ingredients, from nature valley. ♪ ♪ i was thinking that i hope this never ends ♪ [ female announcer ] nature valley granola bars, nature at its most delicious. >> now insta-weather plus and traffic pulse 11 together. >> good morning. sarah caldwell checking on your morning commute. very light volume out there and it will probably continue to be that way. it is new year's eve. westbound liberty road, we have some downed wires to watch for. not tracking any delays on the west side at 70. you can see help light the traffic is. south on 295, the b-w parkway shipping up to be a very nice. southbound on 95 out of the white marsh
KRON
Dec 30, 2012 11:00pm PST
the u-s economy goes over what's being called the fiscal cliff - lawmakers are locked in a fierce face-off over a set hikes. "we're apart on some pretty big issues." " >> i'm willing to get this done, but i need a dance partner." >> reporter: on n-b-c's meet the press, president obama made a final pitch for his plan to preserve bush era tax cuts for everyone but the wealthiest americans. >> "regardless of partisan differences, our top sure that taxes on middle that would hurt our economy badly." >> reporter: a major sticking point continues to be the annual income level at which those tax increases should kick in. the threshold has wavered from 250-thousand dollars to as high as one-million dollars. republicans argue the country doesn't have a tax revenue problem, it has a spending problem. >> "unless we do something about spending, the government will continue to get bigger and the deficit will continue to get bigger." >> reporter: following the president's interview, speaker of the statement saying in part: "republicans made every effort to reach the 'balanced' deficit agreement tha
PBS
Dec 27, 2012 4:30pm PST
anne miletti. >> susie: the fiscal cliff isn't the only deadline threatening the u.s. economy. dockworkers at some of the nation's biggest ports could walk off the job this weekend, if a new labor deal isn't reached. as allison worrell reports, a strike could ripple far beyond the ports. >> reporter: if a deal isn't reached by 12:01 a.m. sunday, union dock-workers will take to the picket-line. 15 ports span the east and gulf coasts. and while they're in different locations, handling different types of cargo, they all agree, a strike would be very bad for business. >> it's really important for the people in our country to recognize, in this state, that a strike combined with the ongoing negotiations between congress and president obama regarding, um, the so-called fiscal cliff could be a one, two combination knock out for nation's economy. >> if a strike does happen that means a big chunk of the more than 14,000 members of the international longshoresmen association will be off the job. >> reporter: the ports impacted generate an estimated $11 billion in state and local taxes a
PBS
Dec 27, 2012 6:30pm PST
between washington and wall street about the fiscal cliff. stocks initially sold off after senate majority leader harry reid predicted the economy would go over the cliff. speaking from the senate floor he said there's not enough time between now and the end of the year to reach a deal. but stocks erased their losses in the final hour of trading on news that the house of representatives will reconvene on sunday night to resume talks. by the closing bell, the dow was down only 18 points, bouncing back from a triple digit loss, the nasdaq lost four, and the s&p slipped almost two points. so what happens next? and can lawmakers prevent an economic crisis by agreeing on a fiscal cliff deal? darren gersh reports. >> reporter: here is a measure of how bad things are now in washington. markets rallied on news the house will come back to work on sunday, even though there is no solution ready for lawmakers when they return. and in the senate, which is back at work, republican leader mitch mcconnell warned he would not write a blank check to the white house, though he said he would keep an open mind
FOX News
Dec 30, 2012 8:00am PST
that the fiscal cliff won't hit the economy right away. tell actually give lawmakers more time to continue negotiating. but how long can our economy take the uncertainty? >> it is not just uncertainty. we have had that factored in. the reality is that unless the president suspends the increase in payroll taxes that are going to take place, not just social security, but withholding for income tax, while they continue to negotiate, we have gone off the cliff. in the month of january, people will live off their credit cards, but they can only do that so long. come february and march, the higher taxes will require adjustments in the spending habits of folk who is make between $25,000 and $100,000 a year. i would point out that this is no reason to give the president everything he wants and pass that bill that he proposes because if the republicans do that, they lose all their leverage. i have news for most people. if we dont curb our spending, everybody's going to have to pay the higher taxes in the end because things are flying out of ceil. >> no one's talking about spending cuts right now t.
FOX Business
Dec 24, 2012 9:20am EST
with the fiscal cliff, we're not talking growing the economy, how do you split up the economy getting the tax revenue and the same thing with the longshoreman strike. which is probably going to happen they say there's absolutely no negotiation on this, they absolutely want to see more money coming to them and the other side absolutely no way in the world so that's going to take us from maine all the way down to texas much bigger than the strike we had on the west coast ten years ago. >> now, the president usually sides with the unions, we all know that, but in this case, a strike that really could have devastating consequences on the economy, particularly in the middle of the fiscal cliff negotiations. do you think the president might be more even-handed here dealing with the unions? >> well, i really don't know. you never know what this president is going to say and what policies are going to come out, but the longshoremen is an influential union. to see him go on the other side of it would be surprising, probably take a step back and not intervene too much. so, you know, it's a look and see
NBC
Dec 30, 2012 6:00am EST
of the day, or the economy with the fiscal cliff issue, and it needs to be a fast middle to come together and find solutions. i think 2012 was that year where there were so many examples where we as a people have to put things aside and come together and find solutions. there will be plenty of time to deal with divisive issues later on once we get the big stuff taken care of. and immigration is another thing we need to come together on. and we need to find ways to come together on the big vexing issues. >> and truly a year of challenges it was. and coming together, you are right. maria? >> well, let me bring it down a little bit and let me say for us, and i am in health care, so i have to say the president took some big shots at health care reform, and while it's cumbersome and we are having issues in trying to implement it, down at the level where we are working with individuals, people who really need primary care, i think that everything else can be resolved, but it's really getting health care to the people that really need it. and i think to takeaway everything, the number of immigra
MSNBC
Dec 28, 2012 10:00am PST
implications to the economy. much more than the fiscal cliff. >> exactly. the debt ceiling is a cliff. the fiscal cliff is somewhat misname because as we said -- >> slope. >> slope. curb. go over and get back. it is not so bad. but, you know, there's no sort of we defaulted yesterday and today we are sort of undefaulting. it doesn't work that way. once you defaulted on your debt, i mean, you have really sent the world a message you are deeply dysfunctional and the president has said i'm not going to negotiate over that. i'm not going to allow that kind of threat to the credit worthiness of the greatest economy in the world. >> yet, that's where all of the republicans want to have their next fight. >> that's where they want to have the fight. give it to them or not. i suspect he won't. >> quite a few days followed by quite a few months. thanks so much for joining us. we appreciate it. >>> why do some washington power brokers want to go over the fiscal cliff? the political brief sing next. first, the amr moment of 2012 that left us all speechless. i'm not kidding. this literally left me
CNBC
Dec 26, 2012 5:00am EST
for businesses to invest in the u.s. economy. >>> still ahead on "worldwide exchange," fiscal cliff fiasco. president obama cutting his trip to hawaii short to work a deal that could avoid the fiscal cliff in a few days. we'll break down what's at stake in "your money." >>> if you got fewer presents under the tree, you may be ready. spending numbers are coming in, and they're not pretty. >>> plus, new numbers for apple's ipad mini and more. that's coming up on "worldwide exchange." >>> good morning and welcome to a special edition of "worldwide exchange." i'm jackie deangelis along with seema mody. ross and kelly are off for boxing day. they'll be back tomorrow. >> that's right. >>> let's get a brief check on the markets this morning. energy and metals are trading at this hour on the nymex. you see crude oil up .6%. brent crude also up. and take a look t yellow metal, gold. down just fractionally. now u.s. futures will begin trading in about a half-hour. the cme globex has been closed for christmas and will reopen at 6:00 a.m. eastern time. that also goes for treasuries and the foreign exc
MSNBC
Dec 26, 2012 9:00pm PST
ceiling. a lot of smart people argue how quickly the fiscal cliff will damage the economy. we'll talk more in the show about what the timetable will be. here's what you need to know. the treasury department said on monday they need to begin taking action to keep us from breaking through the debt ceiling. they can buy us two months with the tricks they have up their sleeve. if we waste that time, we get to the debt ceiling and we haven't climbed back up the fiscal cliff and the republicans begin playing games with the debt ceiling, that would be fiscal suicide. we breakthrough the debt ceiling, we're talking depression. not a quick recession. it would be the single stupidest and most damaging act of sabotage in american history. and it cannot be allowed to happen. and here, hopefully to tell me why it will not happen is alice, who probably knows more about the budget and the budget deals than probably anybody else alive. she's appointed to president obama's national commission on fiscal responsibility and reform. and she's currently a senior fellow at the brookings institution. thank you fo
CNN
Dec 30, 2012 4:00pm PST
at washington play chicken with the fiscal cliff and they're saying, hold on, we have this economy that seems to be gathering some steam but washington, government, congress in particular is the single greatest impediment. it's a rational decision. >> get the act together. john avlon, thank you, my friend. don, it's a lot of intangibles here, don. this is the thing we have to think about. it's not just the tangibles of how much your taxes might go up or how much this might go down. it's the intangible of confidence. it's trust. you lose somebody's trust, how long does it take to get it back. it doesn't just come back tomorrow because you vote on something. >> i can't believe mitch mcconnell was there all day yesterday. >> it's crazy. >> he's working on a saturday. i never work on a saturday. wait a minute, i work every saturday. >> you get your job done. you don't get to tell your bosses, i'm going to do this another time. i'll get down to it in 516 days. >> but one day, one day i will be able to do that, at least i'd like to think that. >>> moving on, at the edge of the fiscal cliff, will th
KRON
Dec 28, 2012 6:00am PST
. they have only four days to reach agreement or the u.s. economy will go over the fiscal cliff. >> you may be experiencing some really really light rain right now. that is for the extreme north bay and the bulk of the moisture is sitting off shore. this is the rain that could be affecting you right now and we could have more in the northernmost part of california. a lot of clouds are associated with this system. it will slowly make its way to the bay area. we're not seeing too much here on our models by 8:00 a.m. this morning. putting it into motion later on tonight it is running parallel to the coastline we could see some light rain for the coast. it will be in the north bay and it will not spread too far and land. there may be a pot of our waking up saturday morning. it is a cold start out there, pretty chilly in san francisco 45. 42 in oakland and upper 30's out the door in san carlos 35 for concord and livermore. the temperatures are as much as nine degrees colder than 24 hours ago. afternoon highs for today is that mostly cloudy conditions. san jose 54 in palo alto and turning our att
CNBC
Dec 23, 2012 7:30pm EST
to be here. >> so does all the drama over the fiscal cliff and uncertainty about the economy weigh on consumers? how are you expecting the season to play out? >> well, i don't have any doubt that it does weigh on consumers, it's in the news constantly, people are worried about it, but having said that, we're talking about christmas here. this is no minor holiday. so christmas is going to come on tuesday. it is christmas day. and consumers have to get shopping. and the last thing that parents want to cut back on is the toy is the holiday present for their child for christmas. >> true. so i want to go through the toys you brought. what are you expecting in terms of this christmas holiday shopping season? anything we should look at as far as the real gauges? >> well, you know, it's all going to come down to the last weekend, to the last few days. >> even christmas eve. >> even christmas eve. and toys"r"us, just to make sure, we are open 24 hours all the way through until 10:00 p.m. christmas eve night. so there's still plenty of time, if you haven't bought the toy, get out there now,
PBS
Dec 28, 2012 4:30pm PST
on resolution of the fiscal cliff and the government and the economy. >> a lot of ways to measure thet but the most direct way for momentum home buyers and sellers is prices. do you expect that trajectory to continue? >> i do.we have raised prices ia little more than half of our communities. it's been relatively modest. but as we observe and we read stats, we are getting a lit lite more confident and may push prices a bit more in 2013. >> what are you finding in termg materials. the commodity that it takes to put up t toll brother homes. >> we are seeing that increasea. in 2012 we have seen the cost go up $4,500 a home. move o most of that was in the commodities. as we go to 2013 it's hard to predict. i don't think we'll see labor stay war i where it is and thatl increase and the commodity as well. >> do you expect it to remainch. >> i do expect it to remainchea. the fed has made that commitment to the extent that you can call it a commitment and it's in the best interest of the continued recovery of the economy to keep mortgage rates low because housing is a vital component of employm
PBS
Dec 29, 2012 1:00am PST
to have a fiscal cliff recommendation soon. >> we will be working hard to see if we can get there in next 24 hours and so i am hopeful and optimistic. >> reporter: but the sticking point remains finding something that can make it through the house with enough support from republicans. >> it seems like the 250 threshold that the president proposed previously is unlikely to pass the house in its current form, and so without some sort of additional compromise there, it seems unlikely that we're going to get something done before the end of the year. >> susie: you know thanks for that report. i am just wondering from all of the reporting you have done, do you think we are better off with a bad deal than no deal at all? >> you know susie when peopletal they are talking about a bad deal in political terms. frankly it's republicans that are most worried about the bad deal they have most leverage. the president has the most leverage. they are worried about a bad deal. any deal that gets us past the fiscal cliff is going to be seen as a good deal. >> susie: it seems like we are further apart than
CBS
Dec 24, 2012 4:30am EST
ending another positive year. but the fiscal cliff could send the economy into a tailspin. it appears to already be affecting consumer spending and some of the country's most beloved snacks could soon return to store shelves. 9news returns in two minutes. >>> 4:40 on this monday morning. christmas eve. quiet right now. really no real problems i think till we get more toward late this afternoon into when rain may develop mixed in with sleet and snow. the roads staying mainly wet with high temperatures in the low 40s. a very active weather week coming up. i'll have your seven-day forecast in about five minutes. right now over to liz with a look at timesaver traffic. >>> good morning. the commute very much the same as the weather apparently. 270 montrose all quiet, cleared out. might see shopping traffic as the day goes on with the last- minute shoppers. otherwise so far so good. on the virginia ride, 395 at duke street, everything moves right along there. no problems on 95 coming in towards the mixing bowl either. that's a look at your timesaver traffic. now back to andrea. >> tank you,
CSPAN
Dec 23, 2012 10:05pm EST
the fiscal cliff, through the u.s. economy back into recession. it and recover from that until world war ii. host: a point from it. you can join the conversation on our twitter page. you can also send us an e-mail. we welcome your comments and phone calls. frank is joining us from new jersey. independent line. caller: it seems you guys are throwing around a lot of rhetoric. this is all we hear. look at what is happening in the united states as far as wages and productivity. it is a lopsided picture. productivity has gone up, wages have gone down, since 1973 until now. wages have only gone up 10.7%. we lost somewhere around 7% over the last years in wages. pensions are down. they were cut in half in the last 20 years. we are living in an economy based in the 1970's but we have taxes based on some idiotic profile that does not work. in the 1950's and 1960 pause when the taxes were highest, manufacturing grew and grew. we get to reagan, we lower the taxes, and everything goes down the tubes, for 30 years. not taxing the rich, who by the way, when everyone was losing money, they were making all
MSNBC
Dec 29, 2012 11:00am PST
of that fiscal cliff to a gentle, let's say, bunny slope. we have a fragile economy, but it's accelerating and it's predicted as this year to grow. it grew at 2% to goh at 3% or more this coming year so you want this skier, so to speak to go down the slope and pick up speed so when you do come to the grand bargain that has $3 trillion of debt reduction. all they've got to do is shoulder 1 billion, changing the scale and put the rest of that in the following nine years and that's something that they'll come up with. >> where do they find it? there are various places, and just that, there's $118 billion if you didn't do the payroll tax extension holiday and if you didn't do that at $250,000, that's almost the same equivalent amount or if you wanted to step back and say hey, let's make sure that these defensive, domestic sequestration cuts of $100 billion and half of that and you can take smalles poohes of that and come up to $100 million and know that it will grow close to 3%. that's the key, and that's why they're behind closed doors today. coming up with that, you don't have to have it done by ja
WETA
Dec 31, 2012 6:00pm EST
of the economy, america would face higher unemployment and probably effect of recession. >> the fiscal cliff is a series of spending cuts and tax rises. the uncertainty is already hurting the economy here and americans are angry. >> there is no reason they can't sell it. >> i'm frustrated with all of capitol hill. it is a lot of people to feel that way. it is disgraceful what's going on and we have to put some people who will compromise and of these guys can do it, get rid of them. >> even if the deal isn't found, it won't fix america's budget problems. the government has been tried and found wanting. >> let's take you back to the scene of the greek capital, athens. we did not do it much just as we came to at midnight but the fireworks are under way. it is a country in the deep crypts of austerity budget is perhaps the greeks for getting the financial woes of the country for a few hours. let's leave this beautiful scenes in aphids and go back to the continuing saga on capitol hill. steve kingston is following develops -- following developments. >> both sides are expressing cautious optimism
ABC
Dec 27, 2012 6:00pm EST
economy goes over the fiscal cliff if something isn't done. >> american people are waiting for the ball to drop but it's not going to be a good drop. >> reporter: with no deal taxes will go up and spending will be slashed. some warn the impact could spark another recession. with the deadline approaching the president returned to the white house and the united states senate is back in session. the house will reconvene by sunday evening. >> there is still time and it depends on how complicated the fiction it. >> reporter: the sticking point continues to be taxes. democrats want to extend the tax cuts to everybody but those americans making $250,000 or more a year. republicans remain against any tax increases. the debate is park sparking a high stakes match. >> the speaker cares more about his speaker ship than helping the nation. >> nobody is willing to pull the trigger. everybody wants to play the blame game. it's about to put us over the edge. >> reporter: and that's just where the economy may go. some say a situation could be allowing tax increases to tack effect on january 1st and
CNN
Dec 27, 2012 8:00am PST
market despite all the worries about the fiscal cliff and maybe slower growth in the u.s. economy, the stock market has had a great year. too bad you missed out. smart money has been in the market. the rest of us have been worried about the fiscal cliff. >> number 8, facebook's ipo, hundreds of millions of people like facebook, but investors did not. on its first day as a public company. trading glitches at the nasdaq and questions about the company's ability to make money on mobile users pummelled the stock which has yet to climb its way back to its ipo price. >> number 7, mother meyer. the new ceo of yahoo who announced she was going to take a two-week maternity leave. it looks like a mother's touch is just exactly what yahoo needed. >> number 6, mother nature. a drought in the midwest that scorched the corn and soy crop sending prices sky high. who can forget superstorm sandy. damages as high as $50 billion raising lots of questions about u.s. infrastructure and whether we should be spending money to fix it. >> number 5, china. is china slowing or leading the world? we do know
CNBC
Dec 24, 2012 4:00am EST
cliff gets resolved quickly without wrecking the economy. i think washington is the only thing standing in the way of a worldwide surge in growth and profits. not just in stocks but also in real estate. if you take washington out of the equation -- my job would be so much fun. blackstone should zoom higher. first off, if the fiscal cliff does get resolved people will pull money out of bonds. they should pull them out of bonds any way because deal if small will be inflationary. they're more likely to invest in aggressive alternatives with higher assets under management. for those of that you don't know, the private equity where you buy companies using borrowed money and you fix them up and flip them a few years later by taking them public. over the past two years, blackstone brought eight private companies in its portfolio public and in the next 12 months, they plan on doing another eight. it goes without saying that if we're in a bull market next year, blackstone will be able to realize much higher price which is it brings companies that it owns are public. this is a vicious cycle down.
FOX News
Dec 28, 2012 10:00am PST
the fiscal cliff will have on the economy and have on consumers and potentially lead us back into as you mentioned what a lot of economists believe, another recession. gregg: what happens when fourth quarter earnings come out? >> nobody is really talking about this. companies, fourth quarter ends in a few days from now. we haven't had many warnings come from companies but when you see consumer confidence falling, mastercard came out with their numbers on holiday sales only increasing .7%. well below estimates and historical averages and consumer is 70% of the economy we'll see a wave of corporations come out earnings in middle of january, end of january, come out much lower than expectations. as senator corker talked about today, the markets have held up very well throughout this, because a lot of people on wall street including myself believed a deal would get done before the end of the year. that is looking less and less likely. if nothing gets done you will see the market tank, less consumer spending. gregg: if consumer spending is 70% of the american economy, and it is clearly, this
FOX Business
Dec 28, 2012 11:00am EST
the response is out of washington with the fiscal cliff it is going to slow the economy next year. raising of taxes, cutting down of government spending will decrease economic growth, gdp growth which calculations -- shibani: we're predicting a slowdown but predicting a rise in currency in u.s. dollar. how does that -- >> good question. for safety. the bond market everyone is bearish on the bond market because interest rates should go up but in all reality the commercials have positioned themselves for short-term move down which we had. going back to neutral again and the open interest which is how many contracts are exposed to this trend or hedge are at the lowest level in years. usually you will get higher open interest of the market is going to move in the direction lower and the bond market is signaling that things are not going to be worked out and the economy will slow down the u.s. currency strengthens when there is nervousness around world which relates to the stock market going down. byy the fiscal cliff, the debt ceiling -- shibani: the fiscal cliff -- >> cash is king. next you m
PBS
Dec 27, 2012 7:00pm PST
. but if we would see a fall from the fiscal cliff, it's not in our own estimates that those in the congressional budget office would be enough to impart a recession in the first half of 2013. i think still there's a 51% chance, if you ask me, that we avert the cliff but those are uncomfortablably low chances of success. >> we have seen some progress in the economy, in the housing sector, in the auto sector, in the job market. if we do go over the cliff, what happens to the progress that has been made in those sectors? and consumer spending spending d confidence as well? >> well, what i would most likely anticipate that would face the brunt of the cliff would be the investment, that has always been a volatile and up and down section and we would see that in business and companies forestalling investment, cutting potentially jobs in some sectors and that we have what has been a modest, virtuous cycle turn into a modest vicious one in the first half of 2013 and consumer spending would fall as well and we would see disappointing consumer confidence numbers even today. >> i don't
CNBC
Dec 24, 2012 5:00am EST
before the u.s. economy goes over the fiscal cliff, law marriages are pointing fingers and playing the blame game. >> mario monti is saying he's available to lead italy, but only for a party willing to push his economic agenda. >> but he has competition in the form of sylvia berlusconi, italy's former prime minister tells cnbc he feels a responsibility to run. >> translator: i feel the need to return to the political arena to prevent the country from being delivered into the hands of a leftist party. >> and the crowds are out, the stores are ringing up those sales. but u.s. shoppers, they may be running lower on holiday spirit and analysts are saying that they're spending less, as well. >>> if you're just tuning in, thank you so much for joining us on the show here. a bit of a pre-christmas special for you. these are how the markets are looking at the u.s. open. still looking very negative. we had a high volume session on friday where the markets pulled back about 1% across the board. the markets are still in positive tear over to. but nonetheless, the negative sentiment around the
FOX Business
Dec 25, 2012 5:00pm EST
are going up. the economy is slow. we may or may not go over the fiscal cliff but regardless the economy is stalled and taxes are going up. there is certainty but not just great certainty. >> as a family-owned business after 91 years of being in business we know there's a business cycle. what we need to continue to advocate for as job creators is the virtue of free enterprise. we need to stand up for the principles that are going to allow us to provide our people employment and create prosperity and we have to be able to do that in a unified way because even though the forecast can look bleak at different times we have an incredibly resilient economy and great job creators out there who just given the chance will make a big difference. that is what we have to continue working on. melissa: but, jim, aren't you afraid of being punished either by the public or by the government for speaking out at this point? i mean i have talked privately to people on wall street who have said, you know, they feel like they get pistol-whipped when they say anything against the administration. that it comes
MSNBC
Dec 26, 2012 6:00pm PST
. the problem with the fiscal cliff, the thing we're trying to avoid, the actual danger to the economy, is that we will get too much deficit reduction too quickly. if reducing the deficit was what the economy needed we could go right off the cliff and leave it there. you can see it in this graph, that line going down. that is the fiscal cliff, we went over our deficit problems, gone baby, totally, totally gone. one thing the fear of the fiscal cliff shows by the way, in the fox hole, everyone's a kinsian. everyone agrees. that is number one. too much austerity way too quickly. president obama is not asking for that much in taxes. it's worth getting a bit of perspective in here. you'll be shocked to know, we got a graph for that. here's what happens if we go over the cliff. you get more than $5 trillion in tax increases off the bat. and now here's what happens if we pass the sainted simpson bowles plan. you've heard of the plan. they have 2.6 trillion in tax increases. president obama's latest offer to john boehner has 1.2 trillion in taxes. that is half as much, less than half than sim
CNBC
Dec 28, 2012 9:00am EST
-called fiscal cliff, our economy is coming back, but it's still very tenuous. this is the last thing that we want to see happen, and both sides need to get together and work this out. >> mayor parker, have you taken a stand on where you think the negotiations should go at this point? whether it be on the union side or the maritime side? >> i'm a big believer of doing negotiating at the bargaining contain table. i have to do a lot of negotiations with my unions. they just need to get back together and work this out. the crux of the matter is on royalty payments that were put in decades ago to soften the blow of moving to automated containerized ar ccargo. it's certainly time to move forward to a new agreement. you can't just cling to the past forever, but both sides are going to have to give and move this forward. this is bad for the u.s. economy. and it will have ripple effects around the world. >> mayor parker, thank you for your time. >> we're down 83 on the dow. let's get a market flash back at hq. brian? >> simon, some pending home sales came in high. in fact, the highest level in two an
KRON
Dec 27, 2012 11:00pm PST
and counting until the u.s. economy will go over the fiscal cliff. >> this year, the american people are not waiting for the ball to drop. it is not going to be good. >> reporter: with no deal spending will be slashed and taxes will go of it could spark another recession. with this deadline approaching president obama and the senate will return and speak on sunday. >> certainly there is still time. >> reporter: point is still texas the want to extend the bush assured taxes except for the time making to water vicki thousand dollars per year ordered the sticking- point is still boyish-direct taxe bush-era of texas taxes >> and. nobody wants. to really work they just want to play the name game. >> putting over the edge that the scenario is allowing tax increases to take effect and on january 3rd, the lawmakers are going to be able to cut taxes. elisabeth corridon.. awarding. >> both obama and the senate returned to washington today after a christmas break. house leaders announced the chamber would reconvene sunday and possibly stay in session until a new congress is sworn in january thi
FOX News
Dec 29, 2012 10:00am PST
. >> so despite its name, a lot of strategists say that the fiscal cliff will not hit the economy right away and that could give lawmakers some time to continue negotiating, perhaps, but it's unclear how long the market will tolerate that uncertainty. so, what if no deal is reached and no action is taken? >> well, heather, i actually believe that might be the best outcome of all. when we look at it, there's not really a cliff. what happens on wednesday morning, the first day of the year, we'll roll out of bed and put the gasoline in our car and go to work. so there's not going to be a big change immediately. there will be an increase in taxes, something that's already been agreed to. you know, 12 years ago they agreed to the bush tax cuts would have a sunset provisions and the cuts to spending that will occur were agreed to two years ago with the debt ceiling agreement. so they already have a compromise agreement, they're just trying to change that compromise. >> and speaking of change, what if a partial deal is reached, which is what we're talking about right now, through possibly that
ABC
Dec 28, 2012 5:00pm EST
deal that addresses only the major parts of the fiscal cliff from taking effect. >> we have got to get on a larger agreement, to make sure we sustained a very fragile economy, tried to get it to move faster, and deal with the long- term deficit. >> those decisions may not happen until 2013. a smaller deal would be temporary, sending congress back to work on the details next year. >> i am not ok with them waiting six months or year kick to get things done. >> jake sherman of "politico" predicts that we will go over the cliff. >> we will not see the government shut down our people not be able to pull money out of banks are things like that. >> still a tough sell for constituency growing tired of the political back-and-forth. >> let's get some things set in place and up and running. >> 1 line of thinking on the hill -- there are many -- if we do go over the cliff that would reset all of the tax issues suchissues. what we do know, the clock is ticking and the waiting game continues, with the house not even scheduled to be in session until sunday afternoon. live of the capitol, steve chenev
NBC
Dec 26, 2012 11:00pm EST
to avoid having the economy go over the fiscal cliff nears. as president obama is on his way back to washington, some lawmakers are also expected to get back to the nation's capital. >> with just five days left to reach an agreement, doubts are growing the white house and republicans can cut a deal in time. after spending part of his christmas holiday visiting troops in hawaii, president obama to resume but the talks. congressional aides said the holiday did not bring much progress and form on the initiations have yet to be scheduled. the senate is to attend the session thursday. when the house will reconvene is still uncertain. >> we were talking about the debt ceiling and it came down the 12 hour, the final few minutes before the deadline to get a full-fledged a grim past. >> some economists fear the combination of budget cuts and higher taxes could trigger another recession, as consumers cut back on spending. others said the deadline is not as firm. congress could pass a temporary measure early in the new year doubled will back any changes. political analysts warn some conseque
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